MONTREAL — Canadian National has named Jo-ann dePass Olsovsky to its board of directors, effective immediately. Olsovsky, 56, is executive vice president and chief information officer at Salesforce, and previously spent 12 years at BNSF Railway as senior vice president and chief information officer. Her BNSF experience included overseeing the railroad’s drone inspection operations for […]
GATINEAU, Quebec — Fatigue on the part of a signal maintainer may have been a factor in a December 2020 collision between a VIA Rail Canada passenger train and a Canadian National hi-rail vehicle, according to a Transportation Safety Board of Canada report released Tuesday. In the Dec. 6, 2020, incident at Les Cédres, Quebec, […]
Gaspe peninsula Canadian National train 119 is at the division point of New Carlisle, 104 miles into its 202-mile trip from Gaspe to Matapedia in 1975. Bill Linley photo […]
MONTREAL — Canadian National CEO JJ Ruest will retire in January, the railroad announced today amid the ongoing proxy contest launched by activist investor TCI Fund Management. No successor was named, and CN’s announcement came a day after TCI released its plan touting former CN Chief Operating Officer Jim Vena as its chief executive candidate […]
MONTREAL — Canadian National announced that Jean-Jacques Ruest will retire as president and CEO and as a member of the board of directors, effective as of the end of January 2022, or such later time as a successor has been appointed. “On behalf of the Board, I would like to thank JJ for his dedicated […]
LONDON — TCI Fund Management today released its plan to improve Canadian National’s operational and financial performance, saying that replacing CEO JJ Ruest with former CN Chief Operating Officer Jim Vena would usher in a new era of growth and profitability. But TCI’s plan, included with the launch of a website called cnbackontrack.com, sets no […]
GATINEAU, Quebec — No evidence links railway operations to the fire that destroyed the town of Lytton, British Columbia, in June, the Transportation Safety Board of Canada said in a Thursday news release. This means the TSB’s role in the investigation is complete “unless new information establishes that a TSB reportable event occurred.” The fire […]
WASHINGTON – Canadian National and Watco have urged the Surface Transportation Board to lift the hold it placed on the transfer of nearly 500 miles of former Wisconsin Central branch lines. Watco, in a filing on Tuesday, told the board that it has been preparing to launch service on the routes in Wisconsin and the neighboring […]
Traffic on the big six Class I railroads was a mixed bag in the third quarter, as three systems saw gains versus a year ago and three experienced volume declines. For the third quarter, which ended Sept. 30, total volume on the big six systems was up an average of 0.5%, according to a Trains […]
LONDON – The war of words continues between Canadian National and TCI Fund Management, its second-largest investor. TCI, which seeks to oust CN CEO JJ Ruest and has nominated four directors to serve on CN’s board, today disputed claims that CN made on Monday. CN yesterday set March 22 as the date it will hold […]
MONTREAL – Canadian National has set March 22 as the date when shareholders will vote on activist investor TCI Fund Management’s proposal to oust CEO JJ Ruest and four members of the railway’s board. TCI, which argues that CN has underperformed financially and operationally in recent years, has agreed to the date of the special shareholder […]
MONTREAL – Canadian National has fired back at activist investor TCI Fund Management, which has called for a management shakeup at the railway. CN today said TCI has made numerous “false or misleading” claims about CN’s financial performance and the risks related to the railway’s failed pursuit of Kansas City Southern. CN says TCI has not […]
